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v3.8.0.1

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016
Net sales |  | $ 92,305 | $ 85,658 | $ 179,771 | $ 169,817
Cost of products and services sold |  | 66,998 | 63,611 | 130,761 | 126,432
Restructuring costs |  |  | 640 |  | 1,143
Gross profit |  | 25,307 | 21,407 | 49,010 | 42,242
Restructuring costs |  |  | 57 |  | 210
Impairment of goodwill |  |  |  | 28,000 |
Selling and administrative expenses |  | 20,760 | 18,532 | 41,277 | 38,148
Operating income (loss) |  | 4,547 | 2,818 | (20,267) | 3,884
Interest (income) |  | (8) | (28) | (16) | (55)
Interest expense |  | 425 | 8 | 836 | 21
Income (loss) before income taxes |  | 4,130 | 2,838 | (21,087) | 3,918
Income tax expense (benefit) |  | 5,598 | 832 | (3,990) | 1,083
Net (loss) income |  | $ (1,468) | $ 2,006 | $ (17,097) | $ 2,835
(Loss) Earnings per common share (see Note 4) |  |  |  |  |
Basic (in dollars per share) |  | $ (0.06) | $ 0.08 | $ (0.66) | $ 0.11
Diluted (in dollars per share) |  | $ (0.06) | $ 0.08 | $ (0.66) | $ 0.11
Weighted average common shares outstanding |  |  |  |  |
Basic (in shares) |  | 25,858 | 25,314 | 25,824 | 25,294
Diluted (in shares) | [1] | 25,858 | 25,803 | 25,824 | 25,859
[1] | Options to purchase 3,569,762 common shares and 1,682,270 common shares for the three months ended December 31, 2017 and 2016, respectively, and options to purchase 3,549,705 common shares and 1,626,770 common shares for the six months ended December 31, 2017 and 2016, respectively were not included in the computation of the three month and six month period for diluted earnings per share, respectively, because the exercise price was greater than the average fair market value of the common shares. For the three and six months ended December 31, 2017, the effect of dilutive securities was not included in the calculation of diluted earnings (loss) per share because there was a net operating loss for the period.

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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(a),(d)) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
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